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本人也算业内从业人士，第一次发帖。这里对第一次买房需要考虑的问题做个简短介绍，有兴趣欢迎加入讨论。 How to choose properties. The following point should be considered: Area of property, location, traffic, facilities, quality of construction etc. How to buy a property. 1. If you have not got enough money,get AIP from banks. The bank gives the applicant a conditional offer base on applicant’s income earning ability. It would be helpful in two situations. In private sale, it will give the purchaser a bargain power in the price negotiation with the vendor. In the auction, it will give the purchaser the confidence to bid. 2. Search a property. 3. Section 32 or vendor’s statement should be given before signing a contract by two parties. 4. Private sale or auction. Private sale have 3 days cooling period and the contract could be conditional such as subject to finance or building inspection. Auction has no cooling period, the contract is unconditional. 5. Signing purchase contract. Normally 10% of property value deposit will be paid when signing the Contract and the purchaser will be given 60 days to settle. Contract can be conditional. The purchaser could nominate some other person as the legal buyer. 6. Property purchase contract is provided to the lender and then the purchaser will get loan approval from the bank. 7. The buyer is recommended to do final inspection before the settlement day. 8. The vendor’s solicitor, the purchaser’s solicitor and the bank lawyer will arrange settlement and settlement day. how to get a mortgage loan from bank. 1. Application. The applicant will be given a conditional offer in 3 business days. 2. Valuation. The lender will arrange the valuation for the proposed securities and proposed new property. Normally it takes 1 week. 3. Loan documents signed buy the borrower and return to lender. Normally it takes 1 week. 4. It will take 1 more weeks to get final settlement. What properties should be bought? 1. Off the plan property or existing property. If buying an off the plan property, there will be no stamp duty paying to the government. But there is a risk that the market property value goes down at the settlement. 2. Old or new. It is comfortable to live in a new house, and the depreciation from the property is tax deductible. Properties built before 1986 can not apply depreciation for tax purpose. Old house may not suit for living, but most old property came with a large size of land. The buyer will have more flexibility for renovation, extension or subdivision on an old property in the future. Property bought under what names. Individual, Family trust or company. Under different name, the effect on tax issues, transferring title and property protection will be different. Wealth creation strategies through property investment. 1. Investment property. Can get income tax deduction from interest expense, rental expense and any cost related to the investment property. However, if the property sold out, the capital gain tax will be applied. 2. Invest Home. Can not get income tax deduction but can avoid capital gain tax if the home property sold to other person. Government grant. 1. Who will be eligible? Only the first home buyer can get this lump sum money from the government. 2. How much? Victorians can get $10,000. 3. And how to apply. Can be applied with the home loan together. 4. When to apply? Can be before or after the loan application. Four parts of income from investment properties: 1. Capital gain. 2. Rental income 3. depreciation 4. Negative gain. Conveyance A legal process to transfer ownership of property from the seller to the buyer. Normally carried out by a solicitor or licensed conveyancer, but can be done by an individual. |
